|| MEDICARE OPEN ENROLLMENT STARTS ON OCTOBER 15TH, AND ENDS ON DECEMBER 7TH – DON’T WAIT! ASK US YOUR QUESTIONS EARLY! || GENERAL HEALTH INSURANCE OPEN ENROLLMENT STARTS ON NOVEMBER 1, 2024, AND ENDS DECEMBER 15, 2024, FOR PLANS TO START JANUARY 1, 2025 – DON’T WAIT! ASK US YOUR QUESTIONS EARLY! ||

RETIRING?

RETIRING

Insurance for Retirees

Steve Turner
Insurance Specialist

What Types of Insurance Do I Need When I Retire?

Retirees may need a variety of insurance, including:

  • Health insurance: Medicare is often the primary health insurance for retirees, but some may need additional coverage. This could include a supplemental plan, Medigap or Part D, or a Medicare Advantage Plan.
  • Long-term care insurance: This insurance can help protect your family and relieve financial and emotional stress if you need long-term care.
  • Life insurance: This insurance can help your loved ones financially if you die, and can help them reach their financial goals.
  • Umbrella insurance: This insurance can provide additional liability coverage beyond what your homeowner’s or auto insurance covers. It can help protect your retirement savings if you’re involved in a lawsuit or other legal action.
  • Annuities: These long-term insurance products can help you convert your money into a steady income stream.
  • Travel insurance: This insurance is available for older people, but it may be more expensive because of the higher risk category.

How I Can Help You

MULTIPLE PLAN OPTIONS

With flexible plan options at varying levels of coverage, we let you build the plan that works for you and that includes benefits for:

  • Emergency Treatment
  • Hospitalization
  • Dislocations & Fractures
  • Lacerations
  • Burns
  • Rehabilitation
  • 24-hour Coverage / Off the Job Coverage
  • Accidental Death & Dismemberment
  • … and Much More!

FAMILY COVERAGE

Cover yourself, your spouse, and your children at affordable monthly rates.

  • Emergency Treatment
  • Hospitalization
  • Dislocations & Fractures
  • Lacerations
  • Burns
  • Rehabilitation
  • 24-hour Coverage / Off the Job Coverage
  • Accidental Death & Dismemberment
  • … and Much More!

GUARANTEED FOR LIFE

We know how vital accident insurance is for yourself, your family, and your business. That’s why we offer policies that are guaranteed for life.

  • When you purchase a policy, you lock in affordable rates based on your age, and your rates won’t increase due to age.
  • Your policy is guaranteed renewable year after year as long as your monthly premiums are paid on time.
  • … and Much More!

RETIRING FAQ

Life insurance for retirees works the same way as most term or permanent policies: If you pass away, the death benefit is meant to help replace your income and help your beneficiaries pay for your final expenses.

There is no break in coverage between your employment coverage and your retirement coverage. If you don’t want your health benefits to continue into retirement, you can cancel your coverage through your employer before you retire.

Social Security’s Retirement Insurance Benefits are federally funded and administered by the U.S. Social Security Administration (SSA). These are benefits that apply to individuals who have earned enough Social Security credits and are at least age 62.

As we age, the likelihood of needing assistance with daily activities increases. Long-term care insurance helps cover the expenses associated with longer-term care, whether a nursing home, assisted living facility, or in-home care.

At What Age Is Life Insurance No Longer Needed? Many people no longer need life insurance once they reach their 60s or 70s. They have retired, their kids have grown up, and they’ve paid off their mortgage and other debt.

You can either select it when you turn 65, or you may be able to convert your term life policy to a permanent policy. If you already have a term life policy, call your agent and ask about your options! A permanent policy – like universal or whole life insurance – is a type of coverage that builds cash value over time.

If you have job-based insurance, your coverage usually ends on your last day of work or at the end of that month. The exact date depends on your employee health plan. Sometimes, you will have extended coverage if you leave as a retiree.

Since Medicare pays first after you retire, your retiree coverage is probably similar to coverage from a Medicare Supplement Insurance (Medigap) policy. Both are likely to offer benefits that fill in some of the gaps in Medicare coverage—like coinsurance and deductibles.

If you or your spouse are working and covered through an employer, you can also decide to keep this coverage and enroll in Original Medicare, Part A, and/or Part B to get additional health coverage.

If you retire before you’re 65 and lose your job-based health plan when you do, you can use the Health Insurance Marketplace® to buy a plan. You may qualify for the Special Enrollment Period and have 60 days from the date you lose coverage to enroll in a new plan. If you miss the 60 days you’ll have to wait until the annual open enrollment period which is (November 1 – December 15)

WHAT MY CLIENTS SAY ABOUT ME

INSURANCE OFFERINGS

HEALTH INSURANCE

HEALTH INSURANCE
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MEDICARE ADVANTAGE

MEDICARE ADVANTAGE
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MEDICARE SUPPLEMENT

MEDICARE SUPPLEMENT
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PRESCRIPTION DRUGS

PRESCRIPTION DRUG PLANS
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LIFE INSURANCE

LIFE INSURANCE
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DISABILITY INSURANCE

DISABILITY INSURANCE
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DENTAL INSURANCE

DENTAL INSURANCE
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GROUP HEALTH INSURANCE

GROUP HEALTH
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ACCIDENT INSURANCE

ACCIDENT INSURANCE
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QUESTIONS? CONTACT ME

I’m here to take your calls and emails and respond to your questions Monday through Friday from 9:00 a.m. to 5:00 p.m., excluding posted holidays.

CALL/TEXT: M-F 9-5

EMAIL ME: 24×7


OFFICE LOCATION

STEVE TURNER INSURANCE SPECIALIST

14502 N DALE MABRY HWY

SUITE 200

TAMPA, FL 33618